Children's Place Retail Stores, Inc. : The Children's Place Appoints Steven Baginski as Chief Financial Officer
04/25/2012| 08:32am US/Eastern
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SECAUCUS, New Jersey, Apr 25, 2012 (GlobeNewswire via COMTEX)
--The Children's Place Retail Stores, Inc. (Nasdaq:PLCE),
the largest pure-play children's specialty apparel
retailer in North America, today announced the appointment of
Steven Baginski as Chief Financial Officer. He will report to
Eric Bauer, Chief Operating Officer.
Mr. Baginski, 53, has more than 25 years of financial and
management experience. Most recently, he held senior level
financial positions with two privately-held companies,
Kellwood Company, an apparel manufacturer, marketer and
retailer, where he served as CFO; and prior to that Hercules
Tire & Rubber Company, where he served as Chief
Administrative Officer and was responsible for Finance, Human
Resources and Information Technology. Previously, Mr.
Baginski spent 8 years with Limited Brands, where he held
several senior level finance positions, culminating in his
role as Senior Vice President, Corporate Finance. Prior to
Limited Brands, he served in financial roles of increasing
responsibility for American Airlines Company and Pepsico, and
was CFO of FMC Gold Company, a publicly traded precious
metals exploration and production company. Mr. Baginski
earned his BS degree in Operations Research and Industrial
Engineering, and his MBA from Cornell University.
"Steve is a seasoned financial executive with a deep
knowledge of the retail apparel business," commented
Jane Elfers, President and Chief Executive Officer. "In
addition to his strong financial background, he has extensive
experience in IT, logistics and procurement which makes him a
great asset as we continue our focus on operational
excellence."
About The Children's Place Retail Stores, Inc.
The Children's Place is the largest pure-play
children's specialty apparel retailer in North America.
The Company designs, contracts to manufacture and sells
fashionable, high-quality merchandise at value prices,
primarily under the proprietary "The Children's
Place" brand name. As of January 28, 2012, the Company
operated 1,049 stores and an e-commerce site at
www.childrensplace.com.
Forward Looking Statements
This press release may contain certain forward-looking
statements. These forward-looking statements are based upon
the Company's current expectations and assumptions and
are subject to various risks and uncertainties that could
cause actual results and performance to differ materially.
Some of these risks and uncertainties are described in the
Company's filings with the Securities and Exchange
Commission, including in the "Risk Factors" section
of its annual report on Form 10-K for the fiscal year ended
January 28, 2012. Included among the risks and uncertainties
that could cause actual results and performance to differ
materially are the risk that the Company will be unsuccessful
in gauging fashion trends and changing consumer preferences,
the risks resulting from the highly competitive nature of the
Company's business and its dependence on consumer
spending patterns, which may be affected by the continued
weakness in the economy or by other factors such as increases
in the cost of gasoline and food, and the risk that the cost
of raw materials or energy prices will increase beyond
current expectations or that the Company is unable to offset
cost increases through value engineering or price increases,
and the uncertainty of weather patterns. Readers are
cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
they were made. The Company undertakes no obligation to
release publicly any revisions to these forward-looking
statements that may be made to reflect events or
circumstances after the date hereof or to reflect the
occurrence of unanticipated events. The inclusion of any
statement in this release does not constitute an admission by
the Company or any other person that the events or
circumstances described in such statement are material.
This news release was distributed by GlobeNewswire,
www.globenewswire.
SOURCE: The Children's Place Retail Stores, Inc.
CONTACT: Jane Singer, Vice President, Investor Relations,
(201) 453-6955
distributed by
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